Margin Formula for Excel.
Discussion
when you say "apply margin" do you mean you want to work out, from a final price, what your margin is on it?
Ie products sells for £50, you make 10% margin, so you want a formula to return a margin of £5?
Which seems a little too simple, so am I missing something more fundamental?
Its a quiet morning so will happily sort it out for you if you could offer a little more detailed explanation.
Edited to add:
Yep, seems like I was having a retarded moment.
>> Edited by Thelemming on Friday 11th November 14:18
Ie products sells for £50, you make 10% margin, so you want a formula to return a margin of £5?
Which seems a little too simple, so am I missing something more fundamental?
Its a quiet morning so will happily sort it out for you if you could offer a little more detailed explanation.
Edited to add:
Yep, seems like I was having a retarded moment.
>> Edited by Thelemming on Friday 11th November 14:18
Margin and Mark up are 2 very different calculations. From your example ;
Cost : £ 50
Margin : 10 percent
Sell is the £ 55.55
Quite a lot of people confuse markup with margin.
In the meantime from posting this a good friend of mine has provided the formula I needed to input in Excel.
For those interested it is :
X=(100/(100-B7))*B6
Where B7 = Margin
B6 = Cost
X = Sell
Cost : £ 50
Margin : 10 percent
Sell is the £ 55.55
Quite a lot of people confuse markup with margin.
In the meantime from posting this a good friend of mine has provided the formula I needed to input in Excel.
For those interested it is :
X=(100/(100-B7))*B6
Where B7 = Margin
B6 = Cost
X = Sell
GreenV8S said:
Not trying to be funny, but if a simple formula like that isn't obvious to you, I would question whether you are the right person to be working out margins.
Apologies for not being an expert in Excel - my remit as company owner doesn't extend that far.
Thanks for the constructive post.
Broccers said:
GreenV8S said:
Not trying to be funny, but if a simple formula like that isn't obvious to you, I would question whether you are the right person to be working out margins.
Apologies for not being an expert in Excel - my remit as company owner doesn't extend that far.
Thanks for the constructive post.
No disrespect intended, not everyone is a computer nerd or happy playing with numbers. From your posts I have got the impression that you needed help with the equation itself as well as help expressing it as an Excel formula. If that's true, then it strikes me as risky for you to work out the margins on your own. The good thing about computers is that they make it very easy to get the right answer. The bad thing is that they make it very easy to get the wrong answer too, and unless your common sense and mental arithmetic is up to the job, it's all too easy for mistakes to go unnoticed - for some reason people seem to trust computers not to make mistakes, but they are only as good as the person programming them and people always make mistakes. This sounds like something that is probably important to get right, hence my comment. If that offends you, I apologize.
[quote=Broccers]"Apologies for not being an expert in Excel - my remit as company owner doesn't extend that far.
Thanks for the constructive post."
You asked for advice and didn't get the most accurate or best articulated answers, re-read your explanation of margin and mark up and see how clear you were.
Don't be so abusive!
Thanks for the constructive post."
You asked for advice and didn't get the most accurate or best articulated answers, re-read your explanation of margin and mark up and see how clear you were.
Don't be so abusive!
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